Kayne Anderson Capital Advisors pays $21M to Davis Companies for storage building in Brownsville

Kayne Anderson Capital Advisors through the entity Wicnn Brooklyn, LLC paid Davis Companies’s Div Hdv Brooklyn, LLC $20.8 million for 252 Newport Street in Brownsville. The deal closed on October 15, 2019, and was recorded on October 23, 2019. The transaction consists of 1 parcel, including the tax class light manufacturing building (F5). The property is 55,808 square feet.
The average sale price per square foot is $372.
The estimated cap rate is 2.3%
The last time the property sold was November 12, 2015, for $7,800,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on June 25, 2019.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $3,900,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $105,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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